Gold prices reach new all-time high

Gold futures for December delivery on the Comex exchange rose above $3,900 per troy ounce for the first time in history, Report informs referring to trading data.

The price of the precious metal rose by 0.33% to $3,886.1 per troy ounce.

Silver also rose by 1.16% to $47.1 per ounce.

In September, global investors poured $15.5 billion into gold funds, the second-highest total on record.

Interest in the metal is driven by expectations of further steps by the Federal Reserve to lower its benchmark interest rate.

Analysts expect the price of the precious metal to exceed $4,000 in the near future.